The Common Retirement Fund is the third-largest public pension fund in the country. It funds the New York State and Local Retirement System, which provides benefits to more than 1 million state and local government employees, retirees and beneficiaries in New York.

The fund “is well-positioned for growth as the financial markets continue to gain strength,” Comptroller Thomas DiNapoli said in a statement. “Fiscal year 2014-15 will be the final year that employer contribution rates will reflect the market loss of 2008-09.”